Northeast Nebraska and Candelaria Philippines | At this point no way in H E double hockey sticks would I lock in 17 production for less then $4.00.
In June of 2016, Dec16 futures rose to 4.40. This was unexpected, and was too high of a price considering the fundamentals.
I would guess again in 2017, the funds at some point will drive this market higher then it should be, and there will be a marketing opportunity again in the mid $4.00 range.
I would hold old crop if you can, and new crop for this opportunity.
Of course, before this happens, I still expect funds to drive this market lower then it should go. |
With the bumper corn crop and huge carryover expected
